Senior Living Dealbook: Retirement Housing Foundations Acquires Five Communities; Brookdale Refinances 2026 Mortgage Debt

Transactions

Retirement Housing Foundation acquires five communities

Retirement Housing Foundation announced it closed on a $10.9 million acquisition of five affordable senior housing communities in Minnesota.

The properties, acquired from Ecumen, include Bethel Manor I & II and Winona Shores in Alexandria, Park Villa in Park Rapids and Parmly Lakeview in Chisago City. The acquisition ensures the communities will remain affordable for the next 40 to 50 years, according to a press release.

“We’re excited to bring these beautiful, vibrant communities into the RHF family,” Stuart Hartman, RHF president and CEO, said in the release. “This acquisition aligns with our mission to provide quality, affordable housing for seniors.”

Blueprint sells 11-story community

Blueprint was retained by a repeat client to market and sell an 11-story independent living and assisted living in Winter Haven, Florida.

The community was originally built in 1979 as the spring training facility for the Boston Red Sox before being converted and renovated into senior living, according to a press release.

The new ownership group is bringing in Atlas Senior Living as the operator.

Lapis Advisors acquires Kingswood Senior Living

Lapis Advisors, a special situation investment manager, announced its acquisition of Kingswood Senior Living, a more than 300 unit continuing care retirement community located in Kansas City, Missouri.

Following the acquisition, Lapis intends to “make meaningful capital investments across the Kingswood campus, with a focus on modernizing amenities, enhancing operations and elevating the overall resident experience,” according to a press release.

Kauhale Health has been selected to lead the CCRC’s day-to-day operations.

Plains Commercial Real Estate announces sale of Greenbriar portfolio

Plains Commercial Real Estate announced it sold the Greenbriar portfolio, a three building portfolio consisting of a 150 bed skilled nursing facility, 60 unit assisted living facility, and a 61 unit independent living facility.

The portfolio is located in Enid, Oklahoma and had never been sold previously, a press release states.

The seller was looking to retire and the buyer is a regional group, according to the release.

Berkadia announces sale of Atria Park of San Mateo

Berkadia announced it sold Atria Park of San Mateo, a 135-unit assisted living and memory care community in San Mateo, California.

Following the sale, the community is being rebranded to Harbor at Hillsdale, a press release states.

The buyer was an “institutionally capitalized partnership led by Shelter Real Estate Investment Strategies and Calson Management,” the release states.

SLIB sells three-community portfolio

Senior Living Investment Brokerage facilitates the sale of a three-community portfolio in Alaska and Idaho.

The portfolio consists of 226 units, a press release states.

The seller is “a seasoned senior’s housing owner-operator,” according to the release, and the buyer is a Utah-based real estate investment trust.

Mergers

Nonprofits Friends Services Alliance and MHS Association merge

Friends Services Alliance and MHS Association have merged to form AQORD, a new national organization dedicated to advancing values-aligned health and human services.

The new organization became effective Jan. 1.

A press release states the leadership team for AQORD will include Karen Lehman, president and CEO; Clare Krabill, COO; Marianna Pessognelli, CFO; Karla Dreisbach, vice president of compliance; Suzette Davis, vice president of consulting; and Aja Moore-Ramos, senior director of communications.

Rocky Mountain Health Care Services, Bethesda Foundation merge

Rocky Mountain Health Care Services, which operates Rocky Mountain PACE, and Bethesda Foundation, which operates Bethesda Senior Living Communities, announced they are merging.

The merger “builds on a long-standing partnership between the organizations” with nearly 100 Rocky Mountain PACE participants residing in Bethesda’s local assisted living and memory care communities, according to a press release. 

“By joining forces, we are strengthening our ability to serve older adults with dignity, compassion and excellence,” Nate Olson, CEO of Rocky Mountain PACE, said in the release. “This merger allows us to leverage resources and expertise while continuing the high standards of care our participants have come to expect.”

Financings

Brookdale refinances 2026 mortgage debt

Brookdale (NYSE: BKD) announced the company completed a series of financing transactions totaling $600 million.

Through the financings, the company refinanced all of its $350 million remaining 2026 mortgage debt maturities and approximately $200 million of its 2027 mortgage debt maturities, according to a press release.

The loans included $245.8 million of mortgage financing in a Fannie Mae credit facility structure, $146.1 million through a Freddie Mac loan origination program and $205 million through a Capital One, National Association mortgage loan, the release states.

Berkadia refinances three communities

Berkadia announced it refinanced three communities, two in Texas and one in Florida.

The Texas communities were refinanced through Freddie Mac financing for the Austin-based sponsor Journeyman Group for $30 million.

The Parkland, Florida community received a five-year loan on behalf of the sponsor, a joint venture between Harrison Street Asset Management and Allegro Senior Living.

Berkadia refinances Bozeman Lodge

Berkadia announced it secured a $33.75 million refinancing for Bozeman Lodge, an independent and assisted living community in Bozeman, Montana.

The financing was secured on behalf of Radiant Senior Living.

This is the debt fund lender’s first seniors housing loan, according to a press release.

Partnerships

Priority Life Care announces enterprise partnership with ECP

Priority Life Care announced it has entered into an enterprise partnership with senior living software platform ECP.

Under the partnership, PLC will adopt ECP’s clinical and move-in solutions including its EHR and eMAR, as part of a modernization effort across the company, a press release states.

“Our vision has always been to build a model of care and operations that is truly future-ready,” Sevy Petras, CEO of Priority Life Care, said in the release.

Clarendale Six Corners partners with Northwestern Medicine

Senior living community Clarendale Six Corners has announced a new partnership with Northwestern Medicine.

The partnership brings Alexandra Petrakos to the community as advisory physician and Rachel Lauber as nurse practitioner, according to a press release.

The collaboration “reflects Clarendale Six Corners’ ongoing commitment to holistic, resident-centered care by expanding access to leading geriatric expertise and preventive health strategies,” the release states.

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